Shares of Vodafone Idea dropped more than 3.25 per cent to Rs 12.51 during the early trading on Wednesday, commanding a total market capitalization of more than Rs 61,000 crore
Vodafone Idea approved to launch its FPO on Thursday, April 18 and which can be subscribed till Monday, April 22.
[Vodafone India Ltd has announced the floor price and cap price, along with the lot szie for its forthcoming follow-on public offering (FPO), kicking off from Thursday, April 18, 2024. The capital raising committee of the company will meet on Tuesday, April 16, to share anchor details.
The capital raising committee has, at its meeting held on Friday, 12 April 2024, approved and recommended the floor price of the offer to be Rs 10 per equity share and cap price of the offer to be Rs 11 per equity share, said the company in its exchange filing with the bourses.
A minimum bid lot of 1,298 equity shares and in the multiples of 1,298 equity shares thereafter, it said. At the floor price, each lot will cost Rs 12,980, while at the cap price it will cost Rs 14,278.
“A meeting of the capital raising committee is scheduled to be held on April 16, 2024 (Tuesday) for the purposes of allocation of equity shares to the successful anchor investors pursuant to the offer and for determination of the anchor investor allocation price,” filing added.
Prior to this, Vodafone Idea approved to launch its FPO on Thursday, April 18 and which can be subscribed till Monday, April 22. The telecom operator will be looking to raise a total of Rs 18,000 crore via its secondary stake sale, it said in a separate exchange filing. The company also passed the resolution to approve its red herring prospectus (RHP) for the offer. it added.
Shares of Vodafone Idea dropped more than 3.25 per cent to Rs 12.51 during the early trading on Wednesday, commanding a total market capitalization of more than Rs 61,000 crore. The scrip had settled at Rs 12.93 apiece in the previous trading session on Wednesday.
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